Image: An LED-backlit LCD medical display (Photo courtesy of NEC Display Solutions).
The global medical display market is expected to grow at a CAGR of 4.6% from an estimated USD 1.86 billion in 2018 to USD 2.33 billion by 2023, driven by the growing adoption of hybrid operating rooms (ORs), short replacement cycle of medical displays, increasing preference for minimally invasive treatments, and rising number of diagnostic imaging centers.
These are the latest findings of MarketsandMarkets (Northbrook, IL, USA), a global market research company.
On the basis of technology, the LED-backlit LCD displays segment held the largest share of the global medical display market in 2017 due to the high-quality medical images, high power efficiency, long lifespan, and better return on investment offered by LED-backlit LCDs in comparison to CCFL. Based on display color, the color displays segment accounted for the largest share of the medical display market in 2017, driven by the increasing adoption of color displays owing to their features such as high-quality images and multi-modality capability.
On the basis of panel size, the under 22.9-inch panels segment accounted for the largest share of the global medical display market. The growth of this market segment is being driven mainly by advancements in miniature circuits, microcontroller functions, front-end amplification, and wireless data transmission. Based on application, the diagnostic application segment held the largest share of medical display market in 2017, led by the rapidly increasing prevalence of diseases such as cancer and growing number of patients being screened using imaging systems.
Geographically, North America accounted for the largest share of the global medical display market in 2017, followed by Europe. The large market share of the North American region is primarily due to the high penetration of advanced technologies such as hybrid OR technologies, increasing volume of medical screening due to rising incidence/prevalence of various diseases, and replacement of older technologies with advanced display technologies such as OLED.